Hedge funds are betting the US dollar’s recent stretch of weekly declines – the longest in almost three years – is set to reverse, as investors ramped up pricing for Federal Reserve rate cuts, according to a report by Bloomberg.
BlackRock’s assets under management increased to $9.1 trillion during Q1, but net income fell 19% over the past year, as the fund management giant saw hedge fund fees tumble sharply amid squeezed margins and subdued markets, according to a report by the Financial Times.
Man Group said in a note this week that commercial real estate could be the next sector to come under pressure following the recent banking crisis, noting small and medium US lenders - which are under closer scrutiny following Silicon Valley Bank's collapse - account for the bulk of commercial property loans.
Hedge funds increased their exposure to stocks in the financial sector amid the banking turmoil in March, swooping in for a buying opportunity at lower prices, according to a report by Reuters.
New York-based hedge fund Versor Investments sees potential growth and profitability in Squarespace, having recently taken a sizable position in the online website building platform, according to a report by BestStocks.
Bronte Capital’s Amalthea hedge fund has taken long bets in UBS and First Citizen, both of which it believes have picked up good assets for a good price as a result of the Credit Suisse and Silicon Valley Bank turmoil, according to a report by the Financial Review.
Managed futures strategies, which are the most active trader of S&P 500 futures, now have the lowest exposure to the index since June 2017, underlining the hedge fund industry’s strong bearish stance towards equity markets, according to a report by Institutional Investor.
New York-based activist hedge fund Pura Vida has entered a boardroom battle at global aesthetics device company Cutera Inc with plans to push ahead with “an orderly CEO succession process”, according to a report by Reuters.
Sustainable energy stocks have attracted the interest of hedge fund short sellers, according to a report in the Financial Times, with managers betting that the prospect of interest rates rise will mean companies with strong environmental credentials but weak earnings are less attractive to investors.
Investors are ‘extraordinarily complacent’ about the macro risks currently facing emerging markets, but idiosyncratic investment opportunities still abound, says Andrew Swan, manager of the Man GLG Asia (ex Japan) Equity strategy.